Robinhood has announced that the SEC has finished its investigation into its crypto unit without pursuing any action, which comes after Coinbase's recent success against a similar lawsuit. Previously, SEC Chairman Gary Gensler scrutinized various crypto exchanges regarding the treatment of crypto assets, particularly staking, which the SEC categorized as a security. Exchanges, including Robinhood and Coinbase, challenged these characterizations, calling for clearer regulations. The crypto sector now hopes to use the transition to a potentially more favorable administration to advocate for structured, sensible regulations that could help stabilize the market's future.
Robinhood expressed relief as the SEC concluded its investigation into its crypto unit, signaling an opportunity to navigate new regulatory landscapes under a friendlier administration.
Coinbase, facing a similar situation, successfully fought back against the SEC's lawsuit, showcasing a trend among crypto exchanges to seek regulatory clarity.
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